A STUDY ON THE ROLE OF E-COMMERCE IN THE PHARMACEUTICAL INDUSTRY
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Keywords
E-commerce, Pharmaceuticals, Medication Access, Patient Convenience, Security
Abstract
The growing acceptance of e-commerce is revolutionising the pharmaceutical sector, influencing the availability, administration, and general procedures related to medications. This study investigates the crucial role of e-commerce by focusing on five specific objectives: assessing the factors that influence its acceptance, such as internet penetration, consumer behaviour, and regulations; analysing the potential benefits for patients, including improved access, convenience, and adherence to medication; identifying the challenges associated with e-commerce, such as security concerns, counterfeit drugs, and logistics; and analysing future trends in e-commerce, such as the integration of artificial intelligence, blockchain technology, and telehealth. An analysis that describes the situation using data that is available to the public emphasises the beneficial impact of internet usage and smartphone usage on the adoption of e-commerce. It also emphasises the importance of having clear regulations and strong security frameworks. The report highlights the potential advantages for patients, such as enhanced availability of prescriptions and greater convenience, while also recognising obstacles such as security issues and the presence of counterfeit drugs. The report concludes by examining upcoming developments in e-commerce, highlighting the capacity of AI and blockchain technology to improve effectiveness, safety, and customisation in e-commerce platforms. This study enhances our comprehension of the role of e-commerce in the pharmaceutical industry, with the goal of providing valuable insights to stakeholders in order to build strategies for a reliable, protected, and effective e-commerce environment. Ultimately, these efforts will result in enhanced health outcomes for patients.
References
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Merlin K Joseph
Research Scholar (Reg:19213091012026) P.G and Research Department of Commerce, Muslim Arts College, Thiruvithancode, Affiliated to Manonmaniam Sundaranar University, Abhishekapatti, Thirunelveli, Tamilnadu.
Dr. M. Jagathish
Research Supervisor, HOD, P.G and Research Department of Commerce, Muslim Arts College, Thiruvithancode, Affiliated to Manonmaniam Sundaranar University, Abhishekapatti, Thirunelveli, Tamilnadu.